Mortgage

You’re in Charge !!!

January 13, 2012

When buying a home, it is easy to feel overwhelmed and at the mercy of everyone else.  Which house to choose, qualifications, paperwork … buying a house is most likely the largest purchase you will ever make and should be considered carefully.  Weigh all the pros and cons of each house, and educate yourself on [...]

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Items You Need When Applying for a Loan

December 22, 2010

Have These Items Ready When You Apply For a Loan It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getting answers quickly so alternate documentation has become more widely used. [...]

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Loan rates and programs

October 28, 2010

Did you ever think interest rates would be 4% for a 30 year mortgage? Well they are and 15 year mortgages are at 3.5%. This is great if you are a qualified buyer. So here’s a little more info to get that interest rate. It’s good for VA, FHA, and Conventional loans. For VA and [...]

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Refinancing – Is now the Time?

July 19, 2010

REFINANCING?   NOW COULD BE THE TIME!  Refinancing your home can be an excellent way to bring down your monthly mortgage payment, raise cash, or consolidate debts with high interest rates. However, you need to do your homework before deciding to refinance. One important factor is the difference between current interest rates and the rate of [...]

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HUD 184 Loan Program

July 10, 2010

Do you know what a HUD 184 loan is? As Realtors this is a loan program you need to be familiar with. The HUD 184 is a Native American loan program. Oklahoma is one of 22 states where a Tribe has requested and obtained approval for the entire state to be an Indian Operating area for [...]

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Mortgage Rates Fall, Again

July 7, 2010

After Hitting Record Lows Mortgage Rates Fall Again The 30 year rate dropped this week from 4.69 to 4.58. This is quite a large drop for a week. What makes it even more interesting is that 4.69 from last week was already an all time historic low. We are moving into territory for mortgage rates [...]

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CREDIT SCORES & LOAN APPROVAL

June 26, 2010

The last two years have been brutal to the mortgage companies and to borrowers.  The guidelines have tightened and mortgage companies are having even more hoops to jump through, but the biggest hit for the borrowers are the credit scores.  It is now that a minimal score of 620 is required to get financing for [...]

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What is happening to mortgage rates?

May 7, 2010

What’s Happening With Mortgage Interest Rates Today: Moderate to High Volatility. Mortgage rates are at their lows for 2010. While they rose significantly a several weeks ago when the Feds ended their MBS purchase program, they have since come back down. But this may be temporary. The overall economy is improving without any increase in [...]

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$8000 Tax Credit Ending/New Bond Money Available

April 1, 2010

The $8,000  Tax Credit will be ending for first time home buyers on April 30, 2010. If a new home buyer enters into a real estate purchase contract on or before April 30th and closes on the real estate transaction on or before June 30th; they may be eligible for up to an $8,000 income tax credit. The same [...]

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FHA to increase fees

March 18, 2010

Have you heard? Bad News: FHA will increase the FHA MIP insurance effective 4/5/10. Good News: The fee increase will only change the average payment $3.00 to $6.00 per month. This change will not affect mortgage loan qualifying. For detailed information please call (405)285-8935.

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